IOB hikes interest rates on FDs

CHENNAI: Indian Overseas Bank (IOB), a leading public sector bank, has announced an upward revision in interest rates for its domestic non-call- able fixed deposits. The decision was finalised during its recent Asset-Liability Committee (ALCO) meeting to align with changing market conditions.

The new rates offer better yields across select medium-term tenures, including the popular 444-day period, and comes into effect from June 11, 2026. Non-callable fixed deposits are specialised accounts designed for savers and depositors who commit to keeping their funds with the bank until maturity without early withdrawals.